Euro$ “gapped” slightly on the open

Euro$ “gapped” slightly on the open

Morning all.

Italian Elections
The Five-Star Movement has come out as the top individual party in Italy’s election, the anti-immigration Lega outperformed expectations and Pro-Europeans lost a lot of ground.

The projections, which are compiled using a sample of votes, estimates the Euro-skeptic, anti-corruption Five Star Movement attracted 34.1% of the votes for the Chamber of Deputies, and put Lega  ahead of its coalition partner, the Silvio Berlusconi-led Forza Italia, with 17.3% against 14.1%.  The current ruling center-left Democratic Party was predicted to gain 18.7 %.

Euro$ “gapped” slightly on the open and so now let’s see how the election affects things. With the exception of some UK figures at 09:30 we could be in for a pretty quiet day ahead of this Friday’s NFP Figures.

I’ll be keeping an eye on Yen pairings in particular and watching to see if the $ is going back into consolidation “proper” or not.

Keep it tight today

Clive

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Categories: Guest Writers, Viewpoint

About Author

Clive Arneil

Clive Arneil worked for major brokers for over 20 years trading most instruments in the Foreign Exchange markets as well as Derivatives. Brokered deals on behalf of some of the worlds largest banks including Barclays, Citibank, UBS, Nat West and the Bank of England. Worked mainly in the UK but also in Switzerland, Germany and the U.S. Retired from the Money Market at the age of 40 and worked as a financial data feed specialist supplying market data to Banks, Brokers and Spread-Betting companies. Still trading and teaching people the skills required to master today’s volatile markets.